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ECB refi rate - European Central Bank’s interest rate

Charts - historic ECB interest rates

Graph European interest rate ECB - interest rates last year

Graph European interest rate ECB - long-term graph

The current European interest rate ECB (base rate) is 0.050 %

European Central Bank

The European Central Bank (ECB) is the central bank for the eurozone (euro area, the countries which have adopted the euro). One of the ECB’s important tasks is to set and implement European monetary policy. This includes the use of the interest rate tool. The main objective of the ECB is price stability, or an inflation level of maximum 2% for the Eurozone (inflation based upon the HICP, harmonised index of consumer prices). For an overview of current inflation in Europe, click here or here for current inflation by country. The ECB offers banks the facility to borrow money from it. Banks make use of the lending facility when they are short of funds. The banks pay interest on the loan, which is called the refi rate or refinancing rate.

Refi rate

When reference is made to the European interest rate this often refers to the ECB refi rate. The level of this refi rate is therefore really the price that banks pay to borrow funds from the European Central Bank. This ‘purchase price’ is an important factor for banks when setting the interest rates that they charge when they lend money. By raising or lowering interest rates the ECB can exercise indirect influence over the interest levels that the banks apply to interbank transactions, business loans, consumer loans, mortgages and savings accounts, amongst other things.

This page shows the current and historic values of the refi rate (refinancing rate) as set by the ECB.

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic European central bank interest rates

ECB latest interest rate changes

 change date percentage
 september 04 2014 0.050 %
 june 05 2014 0.150 %
 november 07 2013 0.250 %
 may 02 2013 0.500 %
 july 05 2012 0.750 %
 december 08 2011 1.000 %
 november 03 2011 1.250 %
 july 07 2011 1.500 %
 april 07 2011 1.250 %
 may 07 2009 1.000 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 0.250 % 12-16-2008
 RBA interest rate Australia 2.500 % 08-06-2013
 BACEN interest rate Brazil 11.750 % 12-03-2014
 BoE interest rate Great Britain 0.500 % 03-05-2009
 BOC interest rate Canada 1.000 % 09-08-2010
 PBC interest rate China 5.600 % 11-21-2014
 ECB interest rate Europe 0.050 % 09-04-2014
 BoJ interest rate Japan 0.100 % 10-05-2010
 CBR interest rate Russia 17.000 % 12-16-2014
 SARB interest rate South Africa 5.750 % 07-17-2014

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)0.25 %12-16-2008
Australian interest rate (RBA)2.50 %08-06-2013
British interest rate (BoE)0.50 %03-05-2009
Canadian interest rate (BOC)1.00 %09-08-2010
European interest rate (ECB)0.05 %09-04-2014
Japanese interest rate (BoJ)0.10 %10-05-2010
All central banks interest rates, click here
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